Wall Street brokerages expect that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will post earnings per share (EPS) of $0.62 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Open Text’s earnings, with estimates ranging from $0.60 to $0.63. Open Text posted earnings of $0.54 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.8%. The business is expected to issue its next quarterly earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Open Text will report full year earnings of $2.39 per share for the current fiscal year, with EPS estimates ranging from $2.33 to $2.49. For the next year, analysts anticipate that the business will report earnings of $2.59 per share, with EPS estimates ranging from $2.36 to $2.90. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Open Text.

Several equities research analysts have commented on OTEX shares. CIBC boosted their target price on Open Text from $41.00 to $42.00 in a research note on Friday, November 3rd. BMO Capital Markets cut their target price on Open Text from $40.00 to $38.00 in a research note on Friday, November 3rd. Barclays boosted their target price on Open Text from $54.00 to $55.00 in a research note on Friday, November 3rd. Macquarie cut their target price on Open Text from $43.00 to $40.00 in a research note on Thursday, November 23rd. Finally, TD Securities boosted their target price on Open Text from $38.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.27.

Open Text (OTEX) traded down $0.02 during midday trading on Friday, reaching $32.61. The company’s stock had a trading volume of 777,000 shares, compared to its average volume of 510,122. The company has a market cap of $8,776.83, a PE ratio of 58.00 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.74. Open Text has a 12-month low of $29.58 and a 12-month high of $35.45.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 1st will be given a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, November 30th. Open Text’s dividend payout ratio (DPR) is 92.98%.

Large investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in shares of Open Text by 15.6% during the 2nd quarter. Wells Fargo & Company MN now owns 5,539 shares of the software maker’s stock worth $175,000 after purchasing an additional 749 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its position in shares of Open Text by 7.5% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 6,498 shares of the software maker’s stock worth $205,000 after purchasing an additional 452 shares during the last quarter. Creative Planning increased its position in shares of Open Text by 48.7% during the 2nd quarter. Creative Planning now owns 6,714 shares of the software maker’s stock worth $212,000 after purchasing an additional 2,200 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Open Text during the 3rd quarter worth approximately $245,000. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Open Text during the 2nd quarter worth approximately $243,000. 66.77% of the stock is currently owned by hedge funds and other institutional investors.

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About Open Text

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

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